India in the money

The Indian cricket board has signed a lucrative kit sponsorship deal with Nike believed to be around £25 million over a five year period.

Nike outbid rivals Adidas, Reebok and Slazenger to land the prized contract, which begins on January 1.

Vice-president Lalit Modi told the BBC that India had now become the world's "most valued brand in team sponsorship."

Airline company Sahara will remain the national side's main backers after agreeing a new four-year deal worth almost £40 million earlier in the week..

"The aim was to maximise the gains for the benefit of the game," Modi said.

"The BCCI is looking at exploring new sources of revenue and will soon open itself to product merchandising, ground sponsorship and other licensing as part of its strategy to market the game."

The new deal further reinforces the BCCI's position as the wealthiest cricket board in the world.

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